Are you a direct debit fan? You probably have direct debits for utility bills, gym subscriptions and more. You probably find direct debits incredibly convenient. But do you know what push payments are? And did you know that they might be taking over direct debits?

Wirecard is a German payments company and its shares have fallen by more than 60% after the firm said its auditors from Ernst & Young had raised questions over cash balances worth €1.9bn last week.

One of the stated goals of the Raisin platforms is Europe-wide, cross-border access to financial products. Germany-based Raisin is now making use of the recent acquisition of MHB Bank for bringing customer accounts from 31 countries to its own Raisin bank.

Revolut has extended its open banking feature to Ireland. This feature launched in the U.K. during February. The partnership with TrueLayer enables customers to add third-party bank accounts to your Revolut account.

Monzo bank is a key market player in the U.K. with more than 4 million customers, now it has confirmed it has closed £60 million in top-up funding. But the paper value of the challenger bank now dropped from £2.0 billion to £1.25 billion.

UK challenger Starling Bank has integrated three new in-app products to its business banking platform.

Dutch challenger bunq has seen growth in deposits and is hiring new staff as other neobanks are cutting jobs.

Challenger bank Revolut introduced a new limit on foreign exchange offering for its free plan.

Traditional financial institutions have always been resistant to change; after all, managing and reducing risk is essential to running a successful bank. After decades of building processes to minimise risk, innovative digital technologies, like open banking, often face resistance from traditional operations.

Last week, we reported on Revolut forcing some staff to leave their jobs without severance - citing underperformance or making them quit on their own accord for just a slice of severance. Since Revolut has not really addressed the issue publically so far, let's take a look at how has the CEO addressed it in messages he sent to his employees.

Prior to the COVID-19 pandemic, many traditional banks were relying on legacy IT systems, involving local branches and nostalgic ways of working, and using lengthy paper and digital processes to onboard customers.

Russia-based Tinkoff is launching a micro-investing service called Investment Box in its app. This way Tinkoff's customers will be able to save small amounts of money regularly while using their debit cards for purchases.

Curve is a UK based banking platform that consolidates multiple cards into a single card and app. According to a TechCrunch report, Curve is quietly testing its “Klarna rival” option.

Nordic digital bank Lunar has launched an account and card designed to help teenagers better manage their money.

Some Revolut staff members claim that they have been pressured into leaving their jobs and taking salary cuts as the company applied cost-saving measures.